Oger Telecom rumoured to be acquiring Vivacom stake

18 Apr 2011

Bulgarian newspaper Trud reports that Dubai-based Oger Telecom is expected to buy a 25% stake in Vivacom (formerly Bulgarian Telecommunications Company). The report suggests that Oger will not pay much for the shares, but will instead have to pay Vivacom’s loans to several banks, which together are valued at more than EUR1.3 billion (USD1.9 billion). In addition, Oger will take over operative management of the telco. According to TeleGeography’s GlobalComms Database, Oger currently owns 55% of Turk Telekom and 75% of South Africa Cell C. Oger itself is 35% owned by Saudi Telecom Company (STC).

Bulgaria, Oger Telecom, Vivacom (BTC)